10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-011550`
Period End Date	20180430
Filing Date	20180611
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	occ-20180430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 56 Cash Flow Statement 60 Stockholders Equity 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$89.18K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$87.45K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.27K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$80.71K	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$797.03K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $89,176 at April 30, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$8.94M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $89,176 at April 30, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$20.68M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$21.92K	USD	Point-in-time
Other receivables	`OtherReceivables`	$72.10K	USD	Point-in-time
Inventories	`InventoryNet`	$16.78M	USD	Point-in-time
Inventories	`InventoryNet`	$18.76M	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$418.12K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$575.51K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$40.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.70M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.90M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.32M	shares	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.70M	shares	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	$66.13K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.32M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$619.43K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$624.26K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$96.97K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$200.85K	USD	Point-in-time
Total assets	`Assets`	$40.14M	USD	Point-in-time
Total assets	`Assets`	$53.01M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$250.73K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$255.78K	USD	Point-in-time
Note payable to bank - current	`NotesPayableToBankCurrent`	$1.68M	USD	Point-in-time
Note payable to bank - current	`NotesPayableToBankCurrent`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.89M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$2.50M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$15.15K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$60.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.38M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$7.00M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$5.70M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.29M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.42M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$128.53K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$133.17K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.45M	USD	Point-in-time
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,696,068 shares at April 30, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$12.30M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,696,068 shares at April 30, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$11.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.91M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.21M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$53.01M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$40.14M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$44.44M	USD	2 Qtrs
Net sales	`Revenues`	$15.85M	USD	1 Quarter
Net sales	`Revenues`	$30.45M	USD	2 Qtrs
Net sales	`Revenues`	$26.89M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$19.98M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$10.18M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.93M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$30.25M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.47M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.19M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.96M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.09M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.40M	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-38.91K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$11.70K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$17.12K	USD	2 Qtrs
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-70.17K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.96K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.29K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.05K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.13K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.23M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$1.56M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-699.84K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-280.51K	USD	1 Quarter
Interest expense	`InterestExpense`	$265.97K	USD	2 Qtrs
Interest expense	`InterestExpense`	$281.29K	USD	2 Qtrs
Interest expense	`InterestExpense`	$118.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$152.47K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$167.40K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$10.79K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$890.00	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$98.17K	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$49.24K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-151.58K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-167.80K	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-270.50K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$956.95K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-231.27K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.41M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-867.64K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-12.79K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$15.71K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-23.78K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$7.81K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-239.08K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$980.73K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-854.85K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$1.39M	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	2 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.13	USD	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-239.08K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$980.73K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-854.85K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$1.39M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$807.49K	USD	2 Qtrs
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$858.66K	USD	2 Qtrs
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$11.17K	USD	2 Qtrs
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$4.86K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$431.01K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$702.86K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.60K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-88.46K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.75M	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$598.89K	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-37.51K	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-50.18K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.98M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.52M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$125.23K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$105.05K	USD	2 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	$66.13K	USD	2 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.05M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.84M	USD	2 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.15M	USD	2 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$175.09K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$45.40K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.71K	USD	2 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-4.65K	USD	2 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$194.83K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-501.27K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.05M	USD	2 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$180.15K	USD	2 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$215.95K	USD	2 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$11.46K	USD	2 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$22.84K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-202.99K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-227.40K	USD	2 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$94.81K	USD	2 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$165.07K	USD	2 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$500.00K	USD	2 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$4.05M	USD	2 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.19M	USD	2 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$748.91K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$30.00K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$17.50K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$16.55K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$47.00	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-377.78K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.66M	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.08M	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-612.79K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$797.03K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$797.03K	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.21M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$537.78K	USD	2 Qtrs
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$-47.00	USD	2 Qtrs
Net income	`ProfitLoss`	$-239.08K	USD	1 Quarter
Net income	`ProfitLoss`	$980.73K	USD	2 Qtrs
Net income	`ProfitLoss`	$-854.85K	USD	2 Qtrs
Net income	`ProfitLoss`	$1.39M	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.21M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.